Loomis Sayles & Co. L P Buys 234,894 Shares of Nomad Foods Limited $NOMD

Loomis Sayles & Co. L P lifted its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 15.2% in the 2nd quarter, Holdings Channel reports. The fund owned 1,785,128 shares of the company’s stock after acquiring an additional 234,894 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Nomad Foods were worth $30,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NOMD. Norges Bank acquired a new position in Nomad Foods in the 2nd quarter worth $15,603,000. Boston Partners raised its stake in shares of Nomad Foods by 40.3% in the 2nd quarter. Boston Partners now owns 14,323,433 shares of the company’s stock valued at $243,276,000 after purchasing an additional 4,114,150 shares during the period. Franklin Resources Inc. bought a new stake in shares of Nomad Foods in the second quarter valued at about $468,000. Legal & General Group Plc boosted its position in shares of Nomad Foods by 124.7% during the second quarter. Legal & General Group Plc now owns 61,040 shares of the company’s stock worth $1,037,000 after buying an additional 33,877 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Nomad Foods by 427.3% during the second quarter. JPMorgan Chase & Co. now owns 105,871 shares of the company’s stock worth $1,799,000 after buying an additional 85,793 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on NOMD. Barclays cut their target price on Nomad Foods from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Zacks Research downgraded shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Mizuho cut their price objective on shares of Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a research report on Friday, October 31st. Finally, BTIG Research reiterated a “buy” rating and issued a $18.00 price target on shares of Nomad Foods in a research note on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.67.

Nomad Foods Stock Up 0.5%

Nomad Foods stock opened at $12.24 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63. The company’s 50-day moving average is $12.24 and its 200-day moving average is $15.01. The firm has a market capitalization of $1.88 billion, a PE ratio of 8.38 and a beta of 0.69. Nomad Foods Limited has a fifty-two week low of $11.04 and a fifty-two week high of $20.81.

Nomad Foods (NYSE:NOMD) last issued its earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The firm had revenue of $881.94 million during the quarter, compared to analyst estimates of $760.75 million. During the same quarter last year, the business posted $0.55 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts anticipate that Nomad Foods Limited will post 1.82 earnings per share for the current year.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 10th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.6%. Nomad Foods’s payout ratio is presently 47.22%.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.